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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 10,420,000 $ 7,495,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,118,000 1,032,000
Provision for doubtful acccounts 238,000 3,000
Deferred income taxes 577,000 673,000
Stock based compensation expense 497,000 152,000
Changes in operating assets and liabilities:    
Accounts receivable 2,386,000 2,131,000
Inventories (7,799,000) (5,999,000)
Prepaid expenses and other current assets (39,000) 307,000
Other assets 0 (11,000)
Accounts payable, accrued expenses, accrued salaries and wages, accrued income taxes (784,000) (20,000)
Net Cash Provided by Operating Activities 6,614,000 5,763,000
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property, plant, and equipment (1,323,000) (1,598,000)
Net Cash Used in Investing Activities (1,323,000) (1,598,000)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from stock option exercises 71,000 24,000
Cash paid for purchase of treasury stock (2,350,000) (3,998,000)
Net Cash Used in Financing Activities (2,279,000) (3,974,000)
Net Change in Cash and Cash Equivalents 3,012,000 191,000
CASH AND CASH EQUIVALENTS - Beginning 8,028,000 5,308,000
CASH AND CASH EQUIVALENTS - Ending 11,040,000 5,499,000
SUPPLEMENTAL CASH FLOW INFORMATION    
Interest paid, net 24,000 18,000
Income taxes paid 735,000 258,000
Surrender of Common Shares $ 0 $ 8,000